(TheNewswire)
Vancouver, B C - TheNewswire - January 24, 2023 - Manning Ventures Inc. (the “ Company ” or “ Manning ”) (CSE:MANN ) ( FRA:1H5) is pleased to announce the analytical results from thesecond- pass of exploration on its 100% owned Bounty Lithium Property(the “Property”), located in the James Bay Lithium District ofnorthern Quebec.
The fall-2022 work program followed up on thespring-2022 work, with an additional 41 samples collected in areasthat contained anomalous LCT-pegmatite. The highest value so far onthe property was collected, containing 707 ppm lithium (0.15% Li2O). Additionally, it contains the highest amount of cesium (661ppm Cs)and very elevated Rubidium (1163ppm Rb); both adding confirmation tothe LCT-style pegmatite model on the northern end of the property. The company is very encouraged by the results of the program, andplans to focus on the area of the positive results in the spring of2023. Satellite imagery suggests that there are outcrops nearby thathave not yet been sampled.
Given the distribution of lithium content of otherpegmatites in the James Bay Lithium District, the samples have beencategorized into three categories (Figure 1), as follows:
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Very anomalous (greater than 201 ppm lithium).
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Spring-2022: Seven samples on the Property arecategorized as very anomalous, with up to 425 ppm lithium.
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Fall-2022: One sample of up to 707 ppm lithium (0.15%Li2O) was collected.
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Anomalous (81 to 200 ppm).
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Spring-2022: Sixteen samplescategorized as anomalous,
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Fall-2022: six samples categorized as anomalous,and
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Not anomalous (below 80 ppm). The remaining samples areconsidered not anomalous.
Those samples in the “very anomalous” categoryappear combined with elevated levels of tantalum, cesium and rubidium,which confirms the Lithium-Cesium-Tantalum (LCT) style pegmatiteaffinity for the Property. Additionally, the abundance of tourmalineamongst the common pegmatite mineralogy of feldspar, quartz and micaadds to the LCT affinity.
The spatial distribution of the very anomalouspegmatites, clustering in the center of the Property, within thevolcano-sedimentary country rock is thought to be a positiveexploration attribute, given the deposit model within the James BayLithium District.
The James Bay Pegmatite District of Quebec is known tohost several large lithium pegmatite deposits including:
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James Bay Project of Allkem.
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Corvette Property of Patriot Battery Metals;
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Rose Lithium-Tantalum Deposit of Critical ElementsLithium Corp; and
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Whabouchi Lithium Deposit of Nemaska Lithium;
Spodumene bearing pegmatites are important sources ofhard rock lithium. With rising EV demand lithium hydroxide and lithiumcarbonatite prices have risen by over 200% during 2021. Despite theprice rises the forecast lithium market imbalance will continue toincrease dramatically in coming years (Allkem, CEO Presentation,2021).
Figure 1: 2022 Sample Results
Figure 2: 2022 Pegmatite Outcrop
Figure 3: Bounty Property within the James BayLithium-Pegmatite District, Quebec.
Quality Assurance / Quality Control(QAQC)
All rock samples were shipped to SGS Canada’slaboratory in Burnaby, BC, for standard sample preparation (codePRP89) which includes drying at 105°C, crush to 75% passing 2 mm,riffle split 250 g, and pulverize 85% passing 75 microns. The sampleswere then homogenized and subsequently analyzed for multi-element(including Li, Cs, Rb and Ta) using sodium peroxide fusion withICP-AES/MS finish (code GE_ICM91A50).
QP Disclosure
Neil McCallum, B.Sc., P.Geo., of Dahrouge GeologicalConsulting Ltd., a registered permit holder with the Ordre desGéologues du Québec and Qualified Person as defined by NationalInstrument 43-101 – Standards of Disclosure for Mineral Projects ,supervised the preparation of the technical information in this newsrelease.
About ManningVentures
Manning is a broad-based mineralexploration and development company with a focus in Canada. Manningholds a 100% interest in the Bounty Lithium Project, located inQuebec, and the Dipole Lithium Project, in Newfoundland. The Companyalso retains interest in six Iron Ore properties located in theProvince of Quebec, and portfolio of polymetallic projects inNewfoundland.
For furtherinformation contact:
Manning Ventures Inc.
Alex Klenman - CEO
Email: info@manning-ventures.com
Telephone: (604) 681-0084
www.manning-ventures.com
Neither the Canadian Securities Exchange nor its Regulation ServicesProvider (as that term is defined in the policies of the CanadianSecurities Exchange) accepts responsibility for the adequacy oraccuracy of this news release. The Canadian Securities Exchange hasnot in any way passed upon the merits of the proposed transaction andhas neither approved nor disapproved the contents of this newsrelease.
FORWARD LOOKING STATEMENTS:
Completion of the acquisition issubject to a number of conditions, including receipt of appropriateregulatory approvals. The acquisition cannot close until all suchconditions are satisfied. There can be no assurance that theAcquisition will be completed as proposed or at all.
Certain informationin this news release may contain forward-looking statements thatinvolve substantial known and unknown risks and uncertainties.Forward-looking statements are often identified by terms such as“will”, “may”, “should”, “anticipate”, “expects”and similar expressions. All statements other than statements ofhistorical fact included in this news release are forward-lookingstatements that involve risks and uncertainties. There can be noassurance that such statements will prove to be accurate and actualresults and future events could differ materially from thoseanticipated in such statements. Important factors that could causeactual results to differ materially from the Company’s expectationsinclude the failure to satisfy the conditions of the relevantsecurities exchange(s) and other risks detailed from time to time inthe filings made by the Company with securities regulations. Thereader is cautioned that assumptions used in the preparation of anyforward-looking information may prove to be incorrect. Events orcircumstances may cause actual results to differ materially from thosepredicted, as a result of numerous known and unknown risks,uncertainties, and other factors, many of which are beyond the controlof the Company. The reader is cautioned not to place undue reliance onany forward-looking information. Such information, although consideredreasonable by management at the time of preparation, may prove to beincorrect and actual results may differ materially from thoseanticipated. Forward-looking statements contained in this news releaseare expressly qualified by this cautionary statement. Theforward-looking statements contained in this news release are made asof the date of this news release and the Company disclaims anyintention or obligation to update or revise such information, exceptas required by applicable law.
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